I use the recent sold price gap to keep expectations realistic.
One of the first things I check is where homes are actually closing versus where they are listed. Last month, the median sold price was $988,200 and the median list price was $1,088,888, so the gap is something I would pay attention to in Chino Hills, CA.
That pricing gap matters because it helps separate hopeful pricing from accepted pricing. In practice, I use it to keep a listing or purchase decision tied to what the market has already accepted.
The sold-to-list price landed at 100.5% last month, which tells me the market was still paying close to asking. That is useful context, especially when a home looks well priced from the start.
Use the gap as your filter. Compare asking price with recent closings.
Stay focused on the numbers buyers actually accepted.
Do not stretch past the recent sold range without a reason.
